The US dollar had a bad week, losing ground across the board with no exception. US inflation and consumer figures stand out in the week before the all-important Fed meeting. Here are the highlights for the upcoming week.
The euro was not convinced by Draghi’s concern about the exchange rate and advanced. The pound got a boost from hopes for a soft Brexit. The Canadian dollar was thrust forward with a rate hike from the BOC and the yen advanced on safe-haven flows stemming from heightened tensions with North Korea and the hurricanes the US suffers from. And what about the dollar? The Fed seems less hawkish with Dudley’s caution about the economy and Fischer’s resignation. Topping it off with the damage from hurricanes Harvey and Irma, and buying dollars is less inspiring.
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